Villages of Columbus - Columbus Grove - Westbourne

NEW -> Contingent Buyer Assistance Program
Z

zovall_IHB

New member
Development: Villages of Columbus

Villages: Columbus Grove

Tract: Westbourne (59 single family detached homes) in the City of Tustin

Builder: Lennar

Schools: Irvine School District (IUSD): Stone Creek Elementary, Lakeside Middle, Irvine High

Tax Rate: The anticipated total effective tax rate is approximately 1.8%, which is inclusive of all Community Facilities District (CFD) rates.

HOA Dues: Approximately $175 ($148 at Build Out)



Plans:

Residence 1 - 3bd/3.5ba - 3004 sq. ft.

Residence 2 - 4bd/3ba - 3374 sq. ft.

Residence 3 - 4bd/3.5ba - 3822 sq. ft.

PRICING

Phase ? ( effective as of November 15th, 2006)

 Residence 1 - From $1,096,000

Residence 2 - From $1,179,500

Residence 3 - From $1,273,000

Phase ? (January 28, 2007)

Residence 1: $1,118,500

Residence 2: $1,167,000

Residence 3: $1,260,000

Phase? (February 24, 2007)

Residence 1 - From $1,068,500

Residence 2 - From $1,087,000

Residence 3 - From $1,099,000

Phase 4 (Reported March 16, 2007)

Residence 3 is $1,197,000.

Incentives are: $25k at design center, $6k in closing if use their lender, some landscaping and about 6 months in homeowner dues.

Pricing effective August 19, 2007 (Picked up on 9/9/07)

Residence 1 - Sold Out

Residence 2 - From $1,099,000

Residence 3 - From $1,197,000
 
I think these prices are still valid (as of mid January 2007) in the sense Lennar has not officially dropped their prices. But they openly say (mid January) that they are willing to negotiate.

Last November, we proposed the following deal on one of these houses: 1) $75K in their "upgrades" (floors, carpet, etc.) and 2) well over $50K in to put in escrow for additional upgrades of our choosing (e.g. landscaping the back yard); and 3) a price reduction in the price of the house of another amount, well over $25K. Lennar said they would do the do the deal, but we decided not to go through with it. I don't know if they would do the same, better or worse now.

I sure would be interested in what others have heard.
 
Does anyone know if you use an agent, does the agent get 3% back from the builder? If Im going to buy from a the builder, I'll pull my aunt in to 'represent' me and have her just give me all of the money back after the transaction closes.
 
It depends on the builder. Avenue One (K. Hov) was offering a 5% broker co-op. My realtor friend inquired at San Carlos (Lyon) but they told him they don't pay the co-op but there was a $1000 referral fee.
 
Owen, come back in November/ December for year end clearance. You'll be saving at least another 10%. They are artificially holding up the prices but really are not getting their asking.
 
Prices on a sheet today (2/24):

Residence One: "From $1,068,500"

Residence Two: "From $1,087,000"

Residence Three: "From $1,099,000"
 
They offered us a Residence Three for $1,099K and gave us a hint that we can bring an offer and they will negotiate (so there is a little room here). This in addition to $36K in flooring upgrade and $6K in closing costs if we can close with their lender by March 2007. One thing I noticed that there were a lot of people there today... Personally, we are going to wait until Dec 2007 for better sale.
 
stillConfused - more than $160,000 drop from the previous month? I think time is on your side. The news is definitely not getting any better for homebuilders, and Lennar will be looking to lower even more, which makes me wonder...if someone purchased at the peak of $1,273,000 (see above pricing) and offered a "lowball" offer of say 10% off (or $1,145,700), are you getting the bargain you thought you were getting?
 
Pricing is in for Westbourne Phase 4.

Residence 3 is $1,197,000.

Incentives are: $25k at design center, $6k in closing if use their lender, some landscaping and about 6 months in homeowner dues.

Interested in hearing what you think a good offer price is.
 
$1,197,000 is $100k more than the last listed price of $1,099,000, which was a drop the prior listed price of $1,197,000. Is the builder just confused about pricing, or are they just playing with your head? The market is not getting any better, so it must be because it is spring selling season. So what happens after spring? Is the homebuyer going to lose an instant $100k or more?
 
Seems like some of the folks who previously quoted pricing were dealing with properties closer to the end of that Phase release. The prices I quoted were at the beginning of this Phase release.

It will be interesting to see how the pricing and incentives change as these properties "age".

There are 8 Residence 3 properties in Phase 4.
 
I would only buy their model home for that price with everything included :-)

Did price go up on all floorplans? I bet they will lower the prices soon and by Decemeber they will be much lower when spring/summer are long gone without any improvement in SoCal RE market. I will wait...
 
I was told one of the R3 on Honey Bee sold late 2006 (probably November through year end) for ~$1,050,000. Can anyone with access to sales transaction records confirm that? Or what the R3s on Sonora sold for?
 
Pricing on 9/9/07 (price sheet reads effective 8/19/07):

Residence 1 - Sold Out

Residence 2 - From $1,099,000

Residence 3 - From $1,197,000
 
A 3800sf plan 3 Westbourne, on the property tax rolls for $1.485M, just closed escrow for $1.07M... Houses on Sonora are foreclosing at a high rate. Per sf prices are down to $270-280 already there.

Almost a $500K loss after agent commissions in around 18 months. Wow!
 
You must log in or register to reply here.
Back
Top